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tv   Varney Company  FOX Business  December 18, 2014 11:00am-1:01pm EST

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a big day for the market. charles is in for stuart varney. we have a lot to talk about. the sony saga, this market rally is amazing. i am charles payne and for stuart. here is your big stories. why are gas prices falling? it is because of fracking. never mind it has created a ton of jobs. never mind it has helped communities thrive. new york governor andrew cuomo mans it.
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it does not understand basic economics. anti-americans having a great christmas. one week before christmas. varney and company is about to begin. ♪ let's check on the big board right now. following the biggest session of the year. gainers on the down right now. ibm saying some pretty interesting things. allele sitting around 56. gas down almost $0.03 overnight. lagur $2.47. hopefully it goes lower. "the interview" release
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suspended indefinitely. hackers threatened a 9/11 alike attack. investigators are saying that north korea is behind this attack. the attack was not launched inside the borders of korea. the same source codes that are used against sony was also used in a bunch against south korea. the fingerprints are all there. david kennedy, a friend of our program tweeted last night "right now do not believe it. i have been wrong before. where is the evidence before we start going after another country? he will make his case. back to the big story. our next guest literally wrote
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the book on fracking. you have probably been everywhere. he was saying last him fracking from new york state. facing in on things like environmental concerns. it has been an environmental godsend for the rest of the nation. weight the risks with the benefits. does it become safer? it is not nearly as worthy of concern. they could be a standard for the rest of the world. the rest of the country.
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melissa: charles: you may be bringing up some sort of spillage there. a lot of people think they're our water tables there. they should be worried about chemicals and mixed. that is why i embrace putting pressure on them and working with him rather than condemning the workers and handing it. >> they also talked about climate change. they connected the dots to climate change.
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this is such ridiculous nonsense when you compare it to what is going on in the world. we will do our fair share. people like to get to grandma's house for christmas. >> if you care about it, you have to embrace fracking. our carbon dioxide emissions have dropped to 1992 levels thanks to the embrace of fracking. charles: i said an hour morning meeting there is no way that andrew cuomo could run for president after this. the best gift you got in 2014, cheap gas. i do not like it. >> it makes no economic sense.
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you have a democratic party that is almost completely run by ideology. you have the governor of new york surrounded. they are asked to believe engaging in fracking. they are really much stronger than the state of new york's. when you have a democratic governor, contrary to all the evidence, this president, even though he will not build a keystone pipeline or approve fracking -- so many other agencies are saying that fracking is safe. in new york, agencies have set fracking is safe. it is not just exclusive to andrew cuomo. this is across the board. charles: politics and economics. they go hand in hand now more than ever. allowing us to export crude oil.
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more facilities that could liquefy this natural gas. export it after all. it seems like a no-brainer. you know the industry and you know the result. >> most people in congress, the gop controlled congress right now. this is among the few things that they have thrown out there. if you talk to people in the heartland, even democrats as well, they see that there are jobs created. you can give some help to more jobs in this industry. there is also a national security component to all of this. you should want china, you
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should want the chinese dependent on you. that is why you should build the keystone pipeline. you should track. the geopolitical are fascinating. that is because oil prices are falling. >> both under a whole lot of pressure. i think that the impact will be amazing. by the way, do not forget japan. you are talking about an easy business plan. the keystone pipeline, fracking, monica mentioned the president and ideology. you know this industry very well. of all the things that make it done next year, i kind of believe that this is something that will happen.
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despite the crazy post- midterm elections, i still think that next year something changes. >> you have to remember that jobs are created. people within the democratic party. relative to other kinds of things. embracing gambling which i am not a huge fan of rather than drilling. charles: obviously, the street like this one. a great performer. off almost 20% last year. 15% this year. when you stop react being -- the
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process was a little bit weaker. >> $4. two and a half dollars. furnishing their resume. the interview. it has been pulled from theaters after a threat of 9/11 attacks were made. we are definitely caving under pressure here. it is a loss for america. >> we just lost our first cyber war. major american corporations under siege by terrorist
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hackers. whether it is north korea or some guy in his pajamas. it looks like it originated in north korea, but we still do not know. u.s. government retaliating against to and what? over an attack on a private corporation. this is a very murky area. we are not prepared for this. we are so fundamentally underprepared for this. knocking out supplies for a good period of time. we are not ready for this. charles: think about north korea used to have to hold us hostage by launching missiles. using something we can see and
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feel. now, someone threatens threatened a cyber attack and we cave. that is point number one. the communists are so genius. what they did here have more of an effect than if they drop a bomb on the united states. they went after sony. they went after movies. they went after television. charles: cruise ships said the same thing. president obama opens up diplomatic relationships. there are critics on both sides of the aisle.
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>> they will reestablish normal diplomatic relations with cuba. more things with cuba. going on tomorrow morning. ♪
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td ameritrade. you got this. charles: we gave up some of the gains. make that 200. time now for your morning old report. 1194. mostly moving sideways. oracle. they reported last night a new high. larry ellison talking 6 about their clout business. now, we have been talking all week long about slamming the russian economies. economic troubles will pass in less than two years. he accuses the west of trying to
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subdue and disarm russia. the approval ratings are still high. from what i have read, they have lost of words of $50 billion. we would argue that there are several left in russia. that is going to filter down directly affect average russians. once again invading one of the neighbors or going after ukraine and total.
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>> the military buildup, i think we have not appreciated it. i think we have looked the other way. it is massive. he is talking about a combat ready army. the collapse of the soviet union was literally the worst thing that happened in the 20th century. he honestly believes that. he will do everything he can to try to restore.
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alan grosses police have nothing to do with the release at the same time. unrelated to the three consecutive. >> yes, i can. charles: i do not think a lot of people understand that the white house is saying this deal is worth officially three cuban spies. a cuban that spied on our behalf. a beautiful gesture on the part of cuba. >> that is what they are saying. everyone is coming out and saying we are absolutely glad.
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and lots of people, particularly republicans, any of these proposed places. cuba would say that this is definitely a situation that is comparable to what we saw. marco rubio have set this in a statement. >> you have senators on both sides of the aisle. senator menendez. not just upset, but completely outraged. perhaps the most brutal in the western hemisphere. what do we get out of it? why was it so necessary to do this? cuba is on the brink of total, total collapse. >> what is interesting, they
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have made public comments on this. you actually do have a lot of support falling on party lines here. you look at leadership. they support normalizing relations with cuba. speaker boehner saying that they do do not. you do have a. mix where you have a lot of people on the left. when you look at somebody like senator rubio, this will be a serious fight for them. they told me that they will not
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get the votes to send an ambassador to cuba. we have not heard from a lot of lawmakers. it is a little difficult to see where everyone falls on this particular change. >> there is absolutely no dow about it. very similar to that executive order. people think it is in kerala state. thank you very much. you always have so many layers. we appreciate it. i want you to take a look at this. he seems pretty normal and tell some thing goes terribly wrong. you will find out what happened when we come back. ♪ grandpa got ran over by a reindeer ♪ ♪ walking home from our house on
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christmas eve ♪ ♪ you can say there is no such thing as santa ♪ ♪ but as for me and grandpa, we believe ♪ ♪ ♪
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make the best entertainment part of your holidays. catch all the hottest handpicked titles on the winter watchlist,
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only with xfinity from comcast. >> we talked about the energy miracle, signing natural-gas, and nike had earnings after the
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bell. and all the great grandkids to college. look at that. collided with the deal when he was writing. the video was recorded on his cellphone camera. the condition has a d year, not known at this time. that is scary stuff. some good news from the airline industry, expedia predicting the price of air fares will drop slightly in coming year in major cities across the country. lauren simonetti joins us with more details. how are they predicting this, prices and going up and up. they would never shared cheaper fuel. >> airfare is going down but compared to what airlines are
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saving in this astronomical drop in jet fuel and gas at the pump, everyone saves money, why aren't we saving more money when we fly. the market that is the biggest drop, this is expected for next year was dallas. the reason for the 11% drop in dallas is an easing of restrictions so that is different. flying to vegas next year, 4% out of new york, almost 2%. those are the bigger decreases. l a, prices going up 1%, san francisco going up 2%. we are not all seeing savings. the reason why did you is down so much, the economy is doing better, there is an increase in demand. there is an increasing capacity. charles: have they taken into account the other fees, cancellation fees and bad fees? >> multibillion-dollar -- charles: you may not my airfare down 4% and charge me 20% more
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because i had to change from thursday and friday. >> i am not impressed with the 4% increase figure. charles: they raised the rate after 9/11 because jet fuel prices went up and they never stopped. thanks a lot, appreciate it. sony fools the movie the interview. no plans for new release of the terrorists win, we lose. how many times? how times have changed. we will explain it all next. thanks.
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charles: the big board, 200, up 200 points, rite-aid raised their full-year forecasts after cutting it twice. investors like that, if you're watching making money with charles payne europe 20%. obviously the narrow trading range. and gas is $0.03 overnight now. we have 24 states where one station has guess below $2 a gallon. at maverick and chevron, nebraska.
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sony pictures canceling the release of the interview catering to the demand of cyber terrorists. how times have changed remember in the 80s in the midst of the cold war you couldn't walk into a theater without seeing some anti in your face soviet movie, we were like rocky iv, war games, spies like us, the hunt for red october naming a few of them, all very anti russia, none of them ever canceled, no one was afraid and they were all hits. joining us is reporter dominique patton. what sony has done caught everyone by surprise. no one understands the reasoning behind this. >> what happened is this is a brave new world, brave new terrible cyberworld. sony was hacked open, their private e-mail, personal e-mail, all revealed to the world. the direction seems to be some
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sort of outrage about this movie the interview which depicts the assassination of the leader of north korea. as you said cyberterror of won. sony will not put the film out at all, not in theaters for video on demand, dvd, nothing. this movie is did unfortunately to some degree so is freedom of expression now. 84 ecb was interesting when you use the word brave, i am thinking the opposite. i am thinking cowardly, i am thinking here is my theory and you can help me out, all these things are leaked out, we find out sony like a lot of hollywood, like to put themselves up on a pedestal, the republicans hate black people, we love them, the republicans the women, we love them, we are a great beautiful organization, turns out you are not. turns out you are a bunch of hypocrites. we got to change the narrative,
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you got to be the victim and this is what they do ended backfired. >> not sure about that but i certainly think from the point of view of releasing a movie on christmas day which is a huge day you will see green movies like american sniper, and broken, sony had a perfect situation here with the interview and they had to abdicate that. the genes, all the big ones and small ones as soon as the threat came out and sings like 9/11 were discussed and a potential physical harm to moviegoers nobody could withstand that and the liability and the federal government has been investigating this and they think the link is in some way back to north korea. charles: thanks a lot. i saw at the very least they could have released it on the internet. little bit of push back would have been great. i appreciate it. you are fantastic. hope it comes back real soon. >> merry christmas.
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before a lot of backlash on twitter after the sony news, they did have to cyberterrorists, even mitt romney telling sony what to do, he tweeted sony pictures, don't have, bite. release the interview, ask viewers to give up 5 bucks to fight ebola. judge andrew napolitano is with us. this is all about reducing liability. everybody wants to avoid losses. it feels like america lost, the constitution lost, we have emboldened the very people, to scare us. >> i could not agree with you more. where was the fbi, where was the president and the administration saying it is our obligation under the constitution to preserve, protect and defend americans freedom of speech,
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sapphire's the protected form of political speech. go to those theaters, watch what you want and we will keep you safe. and did you hear anybody say that? and words to that effect. not enough to put a spine in the backbone of the sony executives taking of beating over their inappropriate private e-mails, somehow they are willing to in pair of the wealth of the corporation, at and the result of a stupid move like this. charles: a minimum of $100 million, stock is down 12%. all of that can be erased. have a backbone, makes you wonder what is going to happen next. if it takes the threat like this, then what is next, anyone can be a target in the industry. this seems like a slippery slope.
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judge napolitano: we don't know what the fbi knows, if they're within inches of arresting these people with these people are in the united states, we don't know if they have reduced it to a finite number of people. i give you a couple ideas. the fbi should go and visit in a federal prison, and american federal prison the five or six best hackers it and the department of justice have convicted for hacking and make a deal with them. we are going to let you out for two days, you will work with us and find these creeps. if you find some you don't have to come back. that would be a great incentive and a great way to use the knowledge of the internet that these professional hackers have to save their estimates and as for being afraid to live in a theater we live in an open society. fear and risk is part of the price we pay for the freedoms we enjoy. the job of the police is to reduce it. they will never diminish
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altogether. charles: well said. i remember this guy, one of the best actors ever, he was so good when they sent him to prison they wouldn't allow him to use a pay phone and when he came out of jail used him for a lot of things. have a great weekend and we will talk again soon. judge napolitano: all the best. charles: after the break the inspiring story of a former baylor basketball player isaiah austin and overcoming adversity is a lesson we all should learn. they challenge us. they take us to worlds full of heroes and titans.
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nicole: i am nicole petallides, great day for the bulls on wall street, dow jones industrial average up 226 points after better than expected jobless claims and commodities pulling back, the dow is up 1.3% as is the s&p 500 and nasdaq up 1.5% and looking at the names leading the dow these names, visa and ibm are winners and contributing 60 points. goldman sachs up almost 4 bucks and there is a look at oracle hitting a new high today, right now we see it up the.1%. winnebago disappointing earnings, it has been under pressure down 8.3% and duncan brands cutting its 2015 forecast. one of the reasons they had slower sales in coffee sell debt is down the-1/4%.
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charles: microsoft leading the dow-. no wonder stuart varney is not here. he is counting his money. he will be gone for a long time. we are joined by a it remarkable young man, basketball player isaiah austin. he learned the rare genetic disorder marvin syndrome would end his dream of playing in the national basketball association but has not stopped him from making some great moves.
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welcome to the show. i know of this year you were selected as an honorary draft in the nba draft and also a full-time student and at baylor and you are active with the team. >> the coach gave me a spot on the team to be a grad assistant so instead of basketball, wiping the sweat and giving water to you guys. it is fun and an experience i will take with me for the rest of my life. definitely taught me to humble myself. it has -- i have been a leader of the team, guys listen to me because they know i have been in the ups and downs and i know about basketball and they will listen to me. i wouldn't say more than the coaching staff, take what i say to heart. charles: so you get the news and it-is your hopes of playing in the nba.
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a lot of money obviously, fame and fortune and you don't fall apart. you fall apart for a little while. how did you have this resolved rebound so quickly? your background? parents? a lot of people are somewhere crying. >> a little bit of everything but the most important thing that has gotten me through this is my faith in god. i trust him to lead me in the right direction in my life and he surrounded me by a group of people who do nothing but support me and keep me positive through this rough patch in my life. charles: i think god is using you to help other people. a lot of people watching this show in similar positions and you changed their lives. >> i am just pushing to inspire people across the world. it is my number one important factor in my life, to try to help somebody pushed adversity, there will be road blocks and things you are going to face in your life but all you have to do is keep faith and stay positive and you can do it.
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charles: you are not going to play in the nba. is there a chance you might cut? >> hopefully some time down the road, a will stick around a lawyer for a couple years because i love the atmosphere at baylor university, the support from everybody and being around the team. maybe some years to come, on the coaching staff. charles: tell us about this, the higher achievement award associated with that. >> i am working with higher america and what they are doing is honoring student-athletes with scholarships not only for excelling on the court and on the field but also in their communities and classrooms. charles: i think that is so important. you found out the hard way there has got to be a plan b. i talked to kids all the time and i am heartbroken. i love the idea of some kid listening to music and talking about private jets, mentions.
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i want every kid in america to think that is within their reach. so many have more options than they think they do, there are a lot of ways to get there with the right education. >> education is very important to me. my mom was very strict on me growing up with my education in high school. if i didn't double-a-3.5 she would make me sit out of games in july got my grade point average back up. i know it is important and having the degree will get you a long way in this world. charles: if it even if people don't have a degree a thirst for knowledge is very important. this will be the best thing i have done all day and i have done a lot of good things and monica is fantastic. >> interesting to hear this, i find your message so inspiring. charles: you are still a big man on campus. you probably became a bigger man on campus.
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>> in some ways. charles: who is going to win the nba championship? >> i would not say looking week. the best player in the country. nba championship. i will go with the spurs again. >> we could really use you so please come. >> it is about culture, they have a culture about winning and individualism. appreciate you taking the time. charles: there is an apps called waive that helps people avoid traffic but one neighborhood in los angeles is creating a problem. the solution for people who live there is to sabotage, we will explain it all next. ♪
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charles: the popular traffic apps weighs is suffering complaints and one los angeles neighborhood where residents are angry after allegedly diverting every freeway traffic to their neighborhoods. those presidents are fighting back by using the apps to report phony car crashes, traffic jams, anything to keep drivers always. a senior director of communication at ways joins us with more. did you guys ever anticipate something like this happening? >> i think when we were working in cities where this pattern traffic exploding off of every road, every highway, people are going to look for alternatives. maybe not be so thrilled when their public roads are used as a solution. charles: did you expect people would be so upset that they
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would try to sabotage your business? >> luckily we had the foresight for checks and balances to make sure that wouldn't happen. charles: everyone in the neighborhood gets together and says this is nuts, a dump truck can't -- they all start to get on the apps and there is the car crash and a free-for-all, everything. how does that -- how would you know that these are false reports or would you? >> first of all we have a system where if you drive past the sign of an accident or police and it is not there you can make a report but the simplest way is we collect passive data from users. as you drive down the street you are teaching that the road is 40 miles an hour and open so unless you communicate with 2 million drivers in the l.a. area it would be hard to be in the system. charles: how do all 2 million communicate? everyone is involved.
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we talk about sharing the economy, the trust economy. is this part of that? >> absolutely. we are all in it together. that is the spirit the apps was built on. whether it is by cheri or passively sharing your speed your letting other people know everything from accidents to police to weather and that is important. charles: police. a lot of people get in trouble for those fuzzbuster is, states made them illegal, some states you can't flush them at the cops and other cops are around. any quebec from the police on this thing? anyone saying avoid so and so? you are too young but the tv radio craze, avoid 995, we had our eye on the sky -- >> there's a human instinct to drive more carefully when you think there are police but believe it or not we are working with police departments all over the country and all over the world, the nypd providing us with road closures and incident data so we are all making each
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other a little smarter collecting all of this information in one place and protecting other drivers. before you have taken the world by storm. you have done extraordinarily well. too bad that one neighborhood doesn't want to be a team player. thanks. new york governor andrew cuomo the latest democrat to make a bad decision for his part, his party. our next guest says democrats are now the stupid party. he is at noon. dr. manny joins us to talk about why he is optimistic about prospects for his homeland. a lot left to do. our 2 in two minutes. no question about that. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your
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charles: two words, the world thinks we are week. weekend of the. we caved on cuba releasing three cuban spies in exchange for one innocent american. president obama says isolation wasn't working and even mentioned colonialism.
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we are taking off the shackles which even some democrats are outraged with this so-called deal. we have the diplomatic advantage. oil is cheap, cuba was on the ropes but america took a dive. quite simply we blew it. we caved in north korea, terrorists friend free-speech and they win. setting down a movie. even hollywood is outraged. michael moran mitt romney on the same page, you know something is wrong. the dow is up huge and gas keeps plummeting. our 2 comes right now. charles: 401(k)s smiling after the biggest day of the year. we're of 260 points. investors like what jet it yellen had to say. biggest gainers on the dow microsoft, goldman, jpmorgan and ibm saying big things about the
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clout. oil is up earlier but now you see it pulled back, it is not plummeting been hanging around a $56 area. gas down almost $0.03 overnight. national average for a gallon of regular $2.47. to our big story this hour kidding to cuba despite economic and diplomatic advantage, caving to north korea over an internet threat because of a movie. the wall street journal's dan henninger is here. we look weak, free-speech is under attack. >> a lot has been under attack in cuba for a long time. the idea. charles: what about free speech under attack in america? we blinked. >> you mean -- charles: let's look at cuba first. here is look thing. the biggest benefactors, russia and venezuela. in huge trouble. i equate it to a boxing match. tremendously for nine rounds and
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plays down. >> bottom line of what you are saying, the regime needs money. the cuban communist money needs money from somewhere and who is showing up to make sure they get it? we've united states. the idea when you talk about this, cuba was repressed so long and somehow going to benefit from this, maybe in 25 years. the first dealmakers will be blue chip companies like caterpillar. they have to have a cuban partner that probably will mean a partner in the cuban communist party and that is where rents are going to flow. the idea that castros will look and entrepreneurialism at a low level in cuba is i think a complete right dream. before we are recasting russia with the oligarchs, sloppy economy, limited economy with american backed money and also validating the castro brothers.
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liz: cue but as a law on its books that they are allowed to take foreign assets, foreign companies for, quote, public use of the your social interest. the number of companies doing business in cuba up limited to 190, down from the 90s. cuba is on the ropes. venezuela was giving it its oil, venezuela is on the ropes. is this a bailout of cuba? charles: it is too a certain degree but the question is why? why would we have to do this? when the president gave a speech on this. i was shocked with terms like shackles and colonialism and isolation hasn't worked. some of the things he said, hasn't worked for who? may be worth more slowly than we thought it did but we have cuba on the ropes we had the cuban people where maybe they might have done some things on there and to spark real long-term change that would benefit all of them. >> i don't think you can remove
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this from the political context. this has been the goal of the american left for a very long time. they say that castro brothers have a wonderful health care system and always wanted to establish a relationship. barack obama is a progressive president and he has said from day one that he wanted to do this and audi is accomplishing it and the templates is foreign policy negotiation template we are very familiar with with barack obama. he gives the other side gets. the next question is whether he will impose this template on iran in the nuclear arms deal with them. liz: what is the truth about cuba's health care system? >> they export their doctors all over the world and send them to places like africa to work on ebola and they do that to get foreign currency. the doctors don't get paid. the money doctors get paid flows back to the castro government. nine what about care for the cuban people? >> basic minimal care, as not
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like they're going to the mayo clinic. it has always been overstated that the quality of the cuban health care system. charles: i don't know what fight congress will put up. marco rubio was doing a lot of saber rattling yesterday joined by fellow democrats but it was a shocking deal blow to your point it was a dream particularly of president obama's and the left for a long time. >> most politicians to understand cuba like senator bob mann mendez or bob graham have said they would not have gone to the fire so quickly. charles: this plays into your editorial where you criticize the democrats for being what you call the new stupid party. keystone is one of your examples. also this thing with andrew cuomo banning fracking. i cannot believe they have done this. does he get the todd make an award? >> the democrats keep going in
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that direction. the green party has captured the democratic party in no small part because big time green donors like tom styron give them millions of dollars but as a result they will not -- barack obama can do a deal with fidel castro but he cannot do a deal over the keystone pipeline which would have employed tens of thousands of private-sector union workers. as a result of not approving keystone the international labour union which has 500,000 members has denounced the democratic party. the parties it keeps doing that is to. rich: said cheaper stimulus funded with taxpayer dollars but how will -- now we have senator elizabeth warren leading the charge. people have told me on wall street if she's elected president will be zero bank credit in this country because -- charles: she could beat hillary but also another point with democrats from your party of stupefy want to get to this thing with andrew cuomo speaking
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of people running for president lot of people said he has presidential ambitions. to me, what would destroy what the average american, think about gasoline prices, the greatest stimulus americans have gotten, a real authentic stimulus, not bigger wages, hard to get that in this economy but people have more money in their pockets now and if we did that across the country. >> fracking has enormously resurrected the middle class where it has happened in south dakota or my home state of ohio. in eastern ohio what used to be a dead zone is a boom town. charles: same thing in north dakota. i was in the air force in 1980. i will stay on the topic and bring in robert bryce in austin. what do you make of this? andrew cuomo banning fracking, let's do it, let's improve the
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techniques, he says the environmental challenges, too dangerous. such a danger that i don't want to create 100,000 jobs or tax revenue, it is too dangerous. >> this is not a surprise in any way. dan henninger hit it exactly right. the democratic party has been captured by the greens and that is not a head line, that has been the case for a long time but what would have been a surprise is of the cuomo administration after years of a moratorium on hydraulic fracturing had done anything but ban it. is not a surprise and it is not that significant in terms of the overall oil and gas industry in the united states. the oil and gas industry already decided we have other places to drill and that is what they are doing. liz: this is liz macdonald. at the same time we had andrew cuomo applauding a fracking
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executive who made billions, hundreds of millions of dollars, he is a billionaire, off of fracking. he is rescuing the beleaguered city of buffalo, new york, funding a lot of money there, bought the buffalo bills, and andrew cuomo said let's build a statue, a big statue to him, applauding him the demonizing fracking bob heintz the scenes. >> if you are looking for consistency you are looking in the wrong place. i take your point but let's look at why it is not that significant overall. we mentioned ohio. look at the rise of what is happening in the shale in ohio, building like never before. in pennsylvania, here is the fact that is fascinating. natural gas prices have fallen so much in the u.s. in the last four years, in pennsylvania alone natural gas production has increased by 16 billion cubic feet per day, equivalent to the
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entire natural gas output of iran. what we have seen other states, forget new york. new york doesn't matter anymore. cuomo is playing to the left and the green party. that is not news. charles: let's extrapolate new york and say california has potential to be a big flagler, there is political will to stop this should be worrisome on economic and political front. >> i take your point, no question new york could benefit here. this is politics playing out over economic interest. again when it comes to energy policy. this has been the hallmark of democratic policy for a long time. what is happening in pennsylvania a few weeks ago the pittsburgh post-gazette reported natural gas or oil and gas related employment in pennsylvania exceeds steel related employment, 21,000 jobs created in oil and gas in
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pennsylvania alone in the last few years. this has been a huge economic stimulus to a state that badly needed it and new york rather than embrace a possible stimulus is saying we don't want that. charles: thanks very much. i will be borrowing all those stats later on today. we appreciate it. we got to check the big board, the dow 270 points. let's bring in larry 11 of chicago. janet yellen give the green light to keep the bad boy going to. more or less saying i won't raise rates for a long time. forget about what the data says. >> every trader, the best they ever heard in their life. people got pretty excited and consumer confidence and 7 year highs, will dropping, a positive thing and bring those things together and see a continued rally. charles: we heard -- i understand some people had
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misgivings from the very beginning. the average investor, and the trend, if you look at that report. 50% of manufacturing employers wages this month the rest of the year, in 2015. >> economies of going in the right direction. we want that to continue and following -- and stimulus for people out there and with the fed continuing, it has the last six years, we got to see more of the same. probably stay where they are. charles: one thing we have seen in the last month increased volatility, the characteristics the carry over into 2015. >> at least for the professional
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traders we want to see that volatility. it goes a lot more. charles: have a great weekend and we will talk to you again. liz: you:the brand new term, don't fight the fed take. charles: more on this sony hack, canceling the release of the interview not the only place to have left.
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>> and et f with a full range of oil stocks, producers, transporters, refiners, the whole barrel will from pulling it out of the ground in your car's engine. is a great overview and the industry. charles: that was eric bolling on wednesday. but edf he mentioned was that the prison since then. energy stocks of come on nicely in the last couple days. oracle the real winner. tell us why. >> they came out with numbers, washington beat the st. for the fourth time in a year. stock is up 8.3%. i should have requested a long-term chart because stock is at the best levels we have seen
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in 14 years. the co-ceo came on in september, reportedly results that beat the estimates of revenue is $9.6 billion, up 3.5% from a year earlier. hitting a new high. charles: thank you very much. check shares of sony getting a little bit of a bounce that they are under pressure up 3% right now. the canceled christmas day release of the interview after hackers made terrorist of threats against movie theaters that would have shown the film lot of anger from hollywood over this decision. rob lowe tweeting out saw seth rogan and jfk, we never seen or heard of anything like this. hollywood has done and neville chamberlain proud today. you know, you actually think
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that sony should have caved? they have nothing left? >> they had no other choice. they have done a disastrous job in terms of handling this thing. when theater owners started to pull out yesterday they had to. is not sony's responsibility to execute foreign policy. god forbid something happen. we have a government, an administration that doesn't take responsibility. they love a scapegoat, if you are head of a publicly traded company, you have another choice of this. before lots of movies -- offend people. i saw a movie a couple years ago where a u.s. senator was shot by an american because he was a republican. a lot of movies of and people. someone picks up a phone or send the threat, a am blowing something up. where do i draw the line? >> they -- it is not their responsibility. holland like to see this as the soldiers of social justice but at the end of the day, share
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price matters. >> the word is what is going on is north korea, the government did the attack itself but underlings did it operating out of china and north korea sanctioned it. north korea supported it. directly linked to the government. sony is freedom of speech, freedom of expression. that is how it banks its money. what does this do to its brand reputation? >> unless they get ahead of this story, by canceling this movie they start the process, next up they should get rid of any pascal who i assume will be pushed out the bourse during the holiday with a face-saving production deal, they should do it sooner just to get ahead of it. until they get ahead of the story and they haven't because every day it is trip drip drip, they won't be able to save the brand. charles: you use the term
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soldiers for justice? >> soldiers for social justice. the e-mails i saw from them. charles: to me made some one step removed from the ku klux klan. always heeded the phoniness of hollywood. always despised them because i know they are phony, liberals don't care about blacks or hispanics and have low opinions of the sand i am glad those e-mails revealed that. >> the executives -- charles: the lack of executives, the hypocrisy. liz: joking with the obama administration. charles: can these guys hold themselves up as being so much more superior than the rest of us ugly americans? we are dumb, we don't travel, we don't know things, they are so well-rounded and accepting of everybody. >> they will when americans stop going to the movies. charles: all these movies, inside iraq movies, very few
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made money, they kept churning them out. they were not really blockbusters. led american sniper, one of the best things i've seen in a long time, opens a christmas day, very american, a hero and was now. before one period particularly george bush was in office and every movie was sort of anti war, we shouldn't be in iraq. americans rejected those movies. >> there was a movie about george bush called killing the president if you remember. it wasn't by sony but another studio. they had no problem with that. liz: do you think the racial the tinge e-mails was the worst part of the sony e-mail fiasco? charles: i think all dovetailed together. the realization they are not the social justice warrior fighters or whenever they pretend to be. thank you. shouldn't make the jump and by your first home, if you think renting is smarter i tell you
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what, break out the calculator. we will give you a lot of reasons to rethink that whole thing next.
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charles: nasa giving as a satellite's eye view of those christmas lights you have around your house, what they look like
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from space leased satellite images of white around 70 major u.s. cities. near major metropolitan areas shine 20% to 50% writer around the holidays than the rest of the year. nice sight. duncan brands forecast disappointment, that stock goes down, strong sales of its package coffee and restaurants him a big hit. new numbers show renting is twice as expensive as buying a home. in the third quarter of 2014 renters could expect to spend 30% of their income on a house, by arizona and spend 15%. that is a pretty big gap. in my mind i talk about this a lot on my show. once you get caught in the renter's traffic is hard to get out of it. >> the thing is we saw in the early 90s but not to this degree of severity we are seeing with these numbers coming in, 30% of your income is going to rant but on the flip side, the younger
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generation and the chief economist, it is now better to buy than to rent. that inverse relationship we had in 1990-'91-'92, that is what happened and that did not lead to a housing bubble. the financing crisis and that -- history tells us this will be a good story for the housing market in 2015 and we will see that it should. where is it more expensive? all is a city story. look at cities like san francisco, los angeles, seattle, boston, new york, the d.c. area. these are the cities where is 30% of your income minimum will be going to pick for your rent, 50% of your income in those cities on average if you buy. if you scrap together that down payment. charles: paying 30% to the rent how can i ever save money for the down payment? hence the dilemma.
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>> any entreated the intergenerational first-time home buyers a little bit of a gift two weeks ago and it was that 3% down so now if the banks get on board and can beat -- the credits wars are a little higher, lending standards are high, you need about 600. in the day it was like you don't have a job? here is a home loan. no problem. before the weekend at birdy's. i like what i like, there is a component in there about removing the insurance part in the value of the home gets to a certain level. if i was a millennial i would jump on this. is not great for taxpayers but if i was a millennial and could put 3% down to get out of that's what you are talking about i would do it. >> we really are in 2015 going to see the buying began. we talk about this, the only issue, this is where i am hoping washington will step in, we have to get jobs that a better.
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part of that is the educational story. part is the fact they are still worried about being oversregulated. charles: thanks very much, appreciate it. more on president obama's deal with communist cuba. we did a cuban-american's take. dr. manny is next. hard it can breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier.
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stuart: checking on the big board, janet yellen, santa claus rally be at 2267 points on the dow after the biggest rally on the dow yesterday. oil is pulling back a little bit but is not in freefall, kind of holding up there. what is still in freefall, gas prices down another $0.03 overnight. maybe we will get down to $0.02 in the afternoon. the cheapest gas in the land right now $1.71 in maverick, nebraska. investors with janet yellen, the market rally had a big session yesterday, a pretty big session today. the target for the dow is 6000 sometime between 17?
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>> i used to see some strong resistance at 17,300. we broke above that, it is modest even though the tracking debt problem is huge here, select the market will go higher the next few months and we may see doubt 19,000 but the higher it goes the greater the bubble bursts. the biggest trigger will be falling oil prices. they will probably bounds from here, but we could see $30 in oil in the next year or so and that will cause fractures to not only be vulnerable, but could crack. stuart: i have brought this point up with our viewers, most of them get angry when you try to talk about something like this, but beyond that, what about the beneficial aspects of this.
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people have less money they have to pay at the gas station. industrial americans have a cheaper and cheaper levels of gas, wouldn't that actually spark a renaissance, and additional renaissance rather then snuff it out? >> in normal times it would. we are in deflationary era, this only adds to the problem. member oil went from 137 to $32 in 2008. all we had was a deepening crisis in the recession for the next year. near-term it is going to trigger another debt crisis like the subprime crisis did in 2008, it will kill the fractures and 60% of the junk bonds from last year, 20% in total, i think this bad the economy or long, it is good but deflation this adds to
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the fire here that they are trying to bite. stuart: we will watch it closely. although there is something to the change live daily consumption and all that stuff. i like your demographic argument better. it is smart to raise your initial target, but we will talk to you again soon. president obama announces his plan to normalize relations with cuba. former senator marco rubio had this to say. >> my interest in cuba is not economic, it is democracy and freedom. let free cuban people choose what economic model they want to follow. but they have done now is provided a lifeline to this castro regime to make itself a permanent fixture for decades to come.
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charles: joining us now is dr. manny alvarez, a member of the fox news medical a team. you are more optimistic than rubio. >> i am, i am. with all respect to senator rubio, i am a little older than him and i came to this country as a refugee. my father was put in a concentration refuge, many family members have died trying to swim over here to get a better life for themselves. i get the whole thing. i know president obama is not nixon. in other words he does not come from a very strong position nationally bid for him to do this important policy one questions whether he has that ability to make changes, dramatic changes in cuba. however opening it up will bring things we desperately need.
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charles: china turns it around and becom becomes a global powe? >> look, if you ask any cuban-american about the new generation, they want this to happen. if you ask the cuban people, they want this to happen. but we have to be realistic, nothing is going to happen. these regulations the president has put forward is not going to change anything. the new congress coming in in january, this will take years to lift the embargo, for there might be some modifications of travel, maybe some diplomatic relationship, maybe commerce gets a little bit easier but people say we will be on the beach next year, that will not come for years to come. charles: what about the hope that they brought these parties together, extraordinarily popular, especially the young
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people. >> there is a backlash about that right now. the catholic church is about maintaining the catholic church presence in cuba, keeping the doors open for the catholic church in cuba but we have yet to see this pope in the prior pope speak about human rights, protecting many catholics, and the flagrant abuse of people there in cuba. we saw pope john paul stand up for solidarity in poland and we have yet to see these two popes do that and speak about freedom and democracy and human rights in the most aggressive way that i think this part of being a christian and being a catholic. we have yet to see this pope go after communist leaders and their abuses of human beings throughout the world. charles: you think a better way to address the issue is through the open door situation as
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opposed to ironclad embargoes, you think that one method were work better. >> 50 years on the same menu, it has not worked. charles: when you say it hasn't worked, it hasn't worked for who? it hasn't hurt america. >> cuba can hurt america in performance. what are they going to do, invade florida? charles: when you say hasn't worked, it has worked in the sense we would have waited that the longer, they would have had to play be at >> the castro's argonne. and nice exit strategy o perhap, i don't know. other people rule cuba in the inner circle. >> the cuban elite, castro of cuba run tourism. they own the hotels, the on the
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banks, they own the sugar industry. >> so does the chinese government and vietnam government and every government from that communist moniker. the cuban people once you start opening up a little bit more, you better see faster changes of democracy. charles: very passionate on all sides. we thank you for coming in spending of the bit of time with us. north korea was one of the major players behind the sony hack but one of the good guy hackers, you will find out what is about next. >> you two are going to be in a room alone. >> we got an interview. >> the cia would love it if you could take him out. take him out. >> for drinks? >> for dinner? >> around town? >> no, take him out. >> you want us to kilometer of
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i love my meta health bars. because when nutritious tastes this delicious, i don't miss the other stuff. new meta health bars help promote heart health. experience the meta effect with our new multi-health wellness line. ♪ >> i am nicole petallides your fox business brief. all dow components are green. 285 points, 1.6% good 17,642. s&p 500 up 42. the nasdaq up 74-point an isis dow leaders, ibm, jpmorgan and goldman sachs. take a rite aid look at,
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that has been a real winner be at of 11.5%. and we are also looking at conagra foods. while the profits plunged in november, they did actually have a right down. they are reaffirming their forecast going forward and reporting after the bell bid nike, pier one imports, all three have up arrows.
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charles: the fbi now says north korea is behind that attack that led to the cancellation of "the interview." so what information does the fed have to back this up? >> we just had a statement for a member of the homeland security, this is coming from homeland security secretary johnson who says the u.s. is considering a range of options in response to this information. the fbi had some administration hasn't said north korea just yet. the second president of stepping away from this.
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more likely setting north korea or others to use similar tactics in the future. charles: talk about him bolting the enemy i appreciate it. don't believe it, but i have been wrong before be at where is the evidence before we go after another country. david, can you make yours? >> when it comes to try to find out how hackers broke into your network you have to take a step back and analyze the data. the fbi said there was no direct link to north korea ha whatsoev. the evidence itself happens to come down to what the actual language it was they made the
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coding in, which happens to be korean. there's not nearly enough evidence to make a judgment one way or the other. >> i think you're right information is loose right now. basically most the evidence points to mimicry. this attack looks similar to a tax done by north korea on attacks done to south korea. >> if you look at it and analyze it, i've looked at the code and what is happening, it does mimic a little bit but using what is publicly available on the internet to create these militias software and it was specific to sony, hardcoded passwords, infrastructure, this is looking like an inside job. maybe some help from the outside. even a few minutes ago tmz released sony executives say they are convinced it is an inside job as well. i would lean way more to the inside job then come in from
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north korea be at they may have some basic capabilities but not what you are seeing here, this does not look like that at all. charles: it would be one heck of a shocker and everybody has the conspiracy hat on all the time but is there any way would ever come out that it was an inside job? >> i think sony is trying to get to the bottom of it. they have hired a third party group to look at that, trying to figure out where this originated from the they can stop it. the teams reports have mobile top executives saying we believe this is an inside threat, inside planned this and that would support the evidence we have right now. the malicious software was coded and designed for sony's architecture bid that would make perfect sense. to understand a network yet understand how connected the systems are end it takes a long time to do that versus summit with his additional knowledge when they already know the knowledge.
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charles: that is some intriguing stuff, i cannot wait to see how this plays out. we appreciate you on the show bid we just broke the dow up 301 points. absolutely huge. yesterday was the best day of the year of half of this month. what is the best way to help the poor? what about capitalism? i think you know what john stossel is going to say, but you don't have to guess. he is here and he is next.
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charles: i need you to think about this because it is a tough one. which do you think helps a country more, capitalism, charity. john stossel asked that very question and joins us with more on exactly what he found out. i know it is a stossel classic. >> savvy people on the street say capitalism just helps the
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rich people, rich republicans or something. no concept this is what has lifted millions of people out of the mud and misery over the past 100 years, life expands along with it. charity helps, charity is wonderful. charles: you can't have effective charity without capitalism. they create the money and wealth to give it away in the first place. >> but then you take a country like africa where we give a trillion dollars in aid and the countries who got the most got more poor. it encouraged crooked government to stay crooked, even bono used to say give more money. now he says entrepreneurial capitalism outpaces charity by far. it is so weird to hear a singer talk about capitalism but it is
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true. charles: it is true. what about america? younger americans take it all for granted. they don't realize when they are playing on their apple phone complaining sending out a tweet about the evils of capitalism how ironic that is. >> right. it builds complacency. i don't know what it is like not to have anderson everybody is entitled to this or that. and we are entitled to the right of free speech that means the entitled to the right of health care and free education, taking money from other people to pay for things di. charles: there is this part of the going out and taking the risk and capitalism is one of the cornerstones why we became one of the greatest countries in the world. elizabeth warren in my mind would kill hillary clinton in
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the democratic primaries if she ran. did you sense anything like that, enough people who have the wrong idea of capitalism? >> i don't think we can judge from my interviews because it is not scientific but young people prefer socialism to capitalism. they don't know what it means. charles: i know it is another classic. you don't want to miss this one on the fox business network at 9:00 p.m. more after this.
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>> it is number one most important factor in my life to help somebody pushed through adversity because there will be roadblocks, there will be things you will be facing in life, all you have to do is keep faith stay positive and you can get through it. charles: that was most feel good and feel i have done in a long time. now here is deirdre bolton.
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theodore: charles, thank you so much. sony pulling "the interview" with the loss of potentially $150 million. ilooking the details of how norh korean engineers were trained. and after nine years of cluelessness, stephen colbert posts his last show tonight. >> this man has influenced every host to came after him and even a few who came before him, he is that good. and i have to tell you, i do not envy whoever they try to put in that chair. [cheering and applauding] deirdre: in a country where most citizens have not even seen the internet, north korea


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